The artificial intelligence (AI) revolution is already here. According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. Also, according to Marketing AI Institute, “Artificial intelligence will, on average, boost rates of profitability by 38% and provide an economic boost of $14 trillion in additional gross value by 2035, according to research by Accenture. That’s all positive news for Nextech3D.AI (OTCQX: NEXCF) (CSE: NTAR), C3.AI Inc. (NYSE: AI), Nvidia (NASDAQ: NVDA), SoundHound AI (NASDAQ: SOUN), and BigBear.AI Holdings (NYSE: BBAI).
Even better, earlier this year, even the White House has taken notice. In fact, the White House and the European Union agreed to work together to develop new AI tools. According to National Security Advisor Jake Sullivan: “This collaborative effort will drive responsible advancements in AI to address major global challenges with a joint development model and integrated research to deliver benefits to our societies through five key areas of focus: Extreme Weather and Climate Forecasting, Emergency Response Management, Health and Medicine Improvements, Electric Grid Optimization, and Agriculture Optimization.”
Look at Nextech3D.AI (OTCQX: NEXCF) (CSE: NTAR), For Example
Nextech3D.AI a Generative AI-Powered 3D model supplier for Amazon, P&G, Kohls and other major e-commerce retailers to thrilled to announce the eagerly anticipated spin-off of Toggle3D.ai.. The expected trade date for Toggle3D.ai (CSE: TGGL) is June 13, 2023 (subject to approvals) of the Canadian Securities Exchange. Nextech shareholders of record will be rewarded with an exclusive dividend of 4,000,000 newly issued shares in the revolutionary Toggle3D.ai, on a pro-rata basis.
Toggle3D.ai is a groundbreaking SaaS solution that utilizes generative AI to convert CAD files, apply stunning 4K texturing, and enables seamless publishing of superior 4K 3D models. , serving various industries within the $160 billion CGI market. With its Augmented Reality-based rapid prototyping web app, Toggle empowers designers, artists, marketers, and eCommerce owners to effortlessly convert, texture, customize, and publish high-quality 3D models and experiences, regardless of technical or 3D design expertise.
After the IPO spin-out Nextech3D.ai is going to retain 13 million shares or about a 50% ownership stake in Toggle 3D.ai. The companies are selling about 8,400,000 shares available at $0.25 per unit (including a $0.50 warrant). The company has raised $2.1mill dollars giving Toggle3D.ai a $7.1 million post money valuation.
The successful spin-out of Toggle3D.ai follows Nextech's impressive track record, including the launch of ARway.ai, currently trading on the CSE as ARWY and on the OTCQB as ARWYF.
Toggle3D.ai is emerging as a standalone public company, initially trading on the CSE as TGGL, with plans to expand its presence to the Frankfurt and OTC markets in the near future. This strategic move not only drives innovation but also unlocks substantial shareholder value, reflecting Nextech's commitment to driving the industry forward.
Timeline to IPO:
- Annual General and Special Meeting (AGSM) is scheduled to take place on June 5, 2023
- The final court hearing to approve the plan of arrangement is scheduled for June 9, 2023
- The expected trade date for Toggle3D.ai (CSE: TGGL) is June 13, 2023 on the Canadian Securities Exchange
Toggle3D.ai Platform Improvements and Updates
- As of May 17, 2023, the Toggle3D.ai platform had a total of 2,204 sign-ups representing a 1533% increase. Since the Beta launch, Toggle3D.ai has attracted a variety of users such as designers, developers, 3D artists, entrepreneurs and creators, reaching thousands of users on the platform within a few months.
- As of May 17, 2023, the Toggle3D.ai platform had a total of 3334 active projects representing a1664% increase since Beta launch
- Toggle3D.ai is expected to launch out of Beta in June, 2023
- Sign-ups from major enterprise brands including LG, Honeywell, VIZIO and more
- Toggle3D.ai recently launched breakthrough generative AI technology that facilitates the generation of 3D materials from text prompts. In the text-to-3D Material Pipeline, users can input a text prompt into the AI generator, and the system creates multiple image variations of that prompt. The generated images are then layered with texture maps to create a 3D material.
Example of “Red Crocodile Leather Fabric” Text Prompt to 3D Material Generation Using AI-Generator
- Toggle3D.ai has recently increased the converting power of its CAD to POLY importer by over 10X, and is now able to convert manufacturing files over 1000mb. These new features will allow the Company to close new revenue opportunities for enterprise-level manufacturers looking to unleash their CAD files for usage on the web.
- In March, Toggle3D.ai launched new machine learning (ML) and computer vision technology for the Toggle3D platform. These powerful ML and computer vision tools simplify and speed up production pipelines for web and XR developers who need high-fidelity 3D models, but who often have limited resources available due to large file sizes or hardware limitations.
- The rapid adoption of this technology is continuing and positions Toggle3D.ai to become an industry leader in the estimated $160 Billion Global GGI Application Software market.
Toggle3D.ai, introduced in September 2022, is a cutting-edge standalone web application that combines augmented reality (AR) technology with user-friendly features, allowing product designers, 3D artists, marketing professionals, and eCommerce site owners to effortlessly create, customize, and publish top-tier 3D models and immersive experiences, even without prior technical or 3D design expertise. The Company strongly believes that Toggle3D represents a groundbreaking solution, being the first platform of its kind, with the potential to revolutionize the manufacturing and design industry. It offers an affordable and scalable approach to converting large CAD files into lightweight 3D models, making it a game changer for businesses in this sector.
Other related developments from around the markets include:
C3.AI Inc. announced preliminary results for its fourth fiscal quarter and fiscal year ended April 30, 2023. All numbers reported are unaudited preliminary estimates. Completed financial results, fiscal 2024 guidance, KPIs, and additional details will be provided on May 31, 2023. “As we began the fiscal year on May 1, the company has never been better positioned,” said Thomas M. Siebel, C3 AI CEO. “I believe we now have broad consensus that the addressable market for Enterprise AI is extraordinarily large; we have nearly 1,000 talented, dedicated employees; the C3 AI Platform is increasingly recognized as the gold-standard in enterprise AI; we have over 40 production enterprise AI applications that offer the market rapid time to value; our C3 Generative AI offerings are being enthusiastically received; our growing market-partner ecosystem enables us to punch above our weight; and with our tried, tested, and proven management team, our august and distinguished board of directors, our strong work ethic, and armed with over $800 million in cash – we are well positioned to accelerate growth, gain market share, attain sustainable non-GAAP profitability, and establish a market-leading position globally in enterprise AI. FY 2024 will be exciting.”
In a major step forward for the field of hybrid quantum-classical computing, NVIDIA announced plans to build a new lab with the Jülich Supercomputing Centre (JSC) at Forschungszentrum Jülich (FZJ) that will feature a classical-quantum supercomputer in partnership with ParTec AG, Munich, based on the NVIDIA® quantum computing platform. FZJ, one of the largest interdisciplinary research centers in Europe, will host the lab as part of the Jülich UNified Infrastructure for Quantum Computing (JUNIQ) to run high-performance and low-latency quantum-classical computing workloads. JUNIQ is currently using the JUWELS booster system with 3,744 NVIDIA A100 Tensor Core GPUs for quantum computing simulations.
SoundHound AI, a global leader in voice artificial intelligence, announced that it will be welcoming attendees of the National Restaurant Association Show 2023 to experience its best-in-class voice AI. The SoundHound for Restaurants booth #7057 will feature the company’s multi-channel integrated voice platform, which allows customers to effortlessly place orders via phone, kiosk, drive-thru, or any other connected device supported entirely by AI. Live demonstrations will include SoundHound’s flagship drive-thru ordering interface, Dynamic Interaction – a multimodal experience that accommodates both voice and touch input, and responds with audiovisual output.
BigBear.AI Holdings announced financial results for the first quarter of 2023. BigBear.ai CFO Julie Peffer said, “In the first quarter, we achieved approximately 16% year-over-year revenue growth driven by key programs with the U.S. Army including GFIM Phase 2. Our disciplined approach to reducing operating costs helped support lowered overall expenses for the quarter. Additionally, we filed a universal shelf registration statement to offer up to $500 million of securities, which will allow us to more easily access capital markets moving forward to support organic and inorganic growth. We expect these key factors will help position us to deliver sustainable revenue growth in the future.”
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Nextech3D.AI by Nextech3D.AI. We own ZERO shares of Nextech3D.AI. Please click here for disclaimer.
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